Auto-Parts Maker Visteon Posts Large Quarter Profit

The second-largest car parts maker in the United States has posted a 4th quarter profit of some US$1.34 billion spurred on by the sale of 23 of its production plants. Without those gains, the company would have had a loss-making quarter.

Shares fell 11 cents on the news. Visteon is second only to Delphi, which recently had to file for Chapter 11 bankruptcy protection in North America (SN reported). Without to sale of the plants to Ford, Visteon lost US$102 million in the quarter.